Centene Corporation $CNC Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its stake in Centene Corporation (NYSE:CNC) by 142.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,656 shares of the company’s stock after purchasing an additional 6,269 shares during the period. Allworth Financial LP’s holdings in Centene were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Centene in the first quarter worth approximately $26,000. Assetmark Inc. raised its holdings in shares of Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Centene by 265.8% during the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock worth $64,000 after purchasing an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in Centene in the second quarter valued at $76,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in Centene in the second quarter valued at $77,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Centene from $25.00 to $32.00 in a report on Monday, November 3rd. UBS Group set a $42.00 price target on shares of Centene and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Centene in a research report on Friday, October 31st. Finally, Zacks Research raised shares of Centene from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.47.

Centene Trading Up 0.9%

Shares of Centene stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08. The company has a market capitalization of $17.89 billion, a P/E ratio of -3.36, a PEG ratio of 1.24 and a beta of 0.49. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The company’s fifty day moving average is $34.97 and its two-hundred day moving average is $39.89.

Centene (NYSE:CNC) last announced its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.